https://www.taxtmi.com/caselaws?id=378405 The Tribunal dismissed the revenue's appeals and partly allowed the assessee's appeals. It upheld the CIT(A)'s decisions allowing depreciation on assets for charitable purposes and carrying forward excess expenditure. The Tribunal also ruled that expenditure incurred in foreign currency qualifies as application for charitable purposes. The issue of accumulation of income was remanded back to the AO for reconsideration. en-us Fri, 25 Jan 2019 00:00:00 +0530 Mon, 15 Apr 2019 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378405 The Tribunal dismissed the revenue's appeals and partly allowed the assessee's appeals. It upheld the CIT(A)'s decisions allowing depreciation on assets for charitable purposes and carrying forward excess expenditure. The Tribunal also ruled that expenditure incurred in foreign currency qualifies as application for charitable purposes. The issue of accumulation of income was remanded back to the AO for reconsideration. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378405